Overview of MarketsX fees and charges

MarketsX's fees are considered to be high. This is usually a result of high fees across multiple fee types. It's important to be aware of this and to decide whether other advantages of MarketsX can still make it a good choice for you. These deciding features can be its research options, its education section or the general user experience you get on its trading platforms.

Here's a high level overview of MarketsX's fees

MarketsX Fees snapshot

Assets

Fee level

Fee terms

US stock fee

-

Not available

EURUSD fee

High

The fees are built into spread, 0.6 pips is the average spread cost.

US tech fund fee

-

Not available

Inactivity fee

Average

$10 per month after 3 months of inactivity

MarketsX fees
MarketsX fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: From a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

Trading fees - these are brokerage fees that you pay when you actually do a trade, i.e. buying an Apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.

A commission is either based on the traded volume or it is fixed.

A spread is the difference between the buy price and the sell price

Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.

Non-trading fees. These occur related to some operations you make in your account, i.e. depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare MarketsX fees with its closest competitors, Plus500 and eToro.

MarketsX fees
MarketsX trading fees

We see MarketsX's trading fees to be high because they charge more than most of its competitors.

Let's break down the trading fees into the different asset classes available at MarketsX.

Trading fees

MarketsX's trading fees are high.

It is super hard to compare trading fees for CFD brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for three assets.

For the assets we chose cleverly and arbitrarily:

Apple, a large US stock

Vodafone, a large European stock

EURUSD, a popular currency pair

The typical trade means buying a position, holding for one week, and selling it. For the volume we chose a $2,000 position for the stocks and $20,000 for the EURUSD.

This super catch-all benchmark includes spreads, commissions and financing costs for all brokers.

Here is the verdict.

MarketsX fees benchmarked

MarketsX

Plus500

eToro

Apple benchmark fee

$6.4

$8.9

$6.3

Vodafone benchmark fee

$6.7

$7.6

-

EURUSD benchmark fee

$24.5

$17.9

$19.6

Financing rates

MarketsX financing rates are high.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

MarketsX yearly financing rates

MarketsX

Plus500

eToro

Apple CFD financing rate

7.6%

13.9%

8.7%

Vodafone CFD financing rate

5.4%

12.1%

-

EURUSD financing rate

6.3%

4.5%

3.8%

EURGBP financing rate

5.0%

3.1%

3.0%

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MarketsX fees
MarketsX non-trading fees

When it comes to looking at all the non-trading fees MarketsX is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.

Non-trading fees include various brokerage fees and charges at MarketsX that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.

A high level overview of how MarketsX stacks up in non-trading fees

MarketsX

Plus500

eToro

Withdrawal fee

$0

$0

$5

Deposit fee

$0

$0

$0

Inactivity fee

Yes

Yes

Yes

Account fee

No

No

No

MarketsX fees
MarketsX deposit fee

Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and MarketsX is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods MarketsX offers.

MarketsX deposit methods

MarketsX

Plus500

eToro

Bank transfer

Yes

Yes

Yes

Credit/Debit card

Yes

Yes

Yes

Electronic wallets

Yes

Yes

Yes

Deposit fee

$0

$0

$0

MarketsX fees
MarketsX withdrawal fee

Unlike the majority of the online brokers we have reviewed MarketsX does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.

MarketsX withdrawal fees and options compared

MarketsX

Plus500

eToro

Bank transfer

Yes

Yes

Yes

Credit/Debit card

Yes

Yes

Yes

Electronic wallets

Yes

Yes

Yes

Withdrawal fee with bank transfer

$0

$0

$5

MarketsX fees
MarketsX inactivity fee

MarketsX does apply an inactivity fee and it is $10 per month after 3 months of inactivity. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that MarketsX charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.

MarketsX has average inactivity fee.

MarketsX

Plus500

eToro

Inactivity fee

Yes

Yes

Yes

Inactivity fee

$10 per month after 3 months of inactivity

$10 per quarter after 3 months of inactivity

$10 per month after one year inactivity

Read more about MarketsX inactivity fee on their own site.

Gergely Korpos

Co-founder, CPO

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased
information. We combine our 10+ years finance experience with readers feedback.
Read more about our methodology

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